Loan-Deposit-Link (the “Promotion”) Offer Terms and Conditions

[1] Unless otherwise stated, the Promotion runs from 1 March 2024 to 30 June 2024 (both dates inclusive) (the “Promotion Period”).

[2] Customers (“you” or “your”) of Welab Bank Limited (“WeLab Bank”, “we”, “our” or “us”) who successfully apply for and drawn down a loan under WeLab Bank Personal Loan (“Loan”) within the Promotion Period with a principal amount of HKD80,000 or above and tenor of 24 months or above (“Eligible Customers”) will be automatically eligible for this Promotion.

[3] Unless otherwise stated, you may be entitled to this Promotion once only.

[4] For the purpose of determining the valid period of this Promotion, it shall start from the month when Eligible Customers draw down a new Loan (including but not limited to any reborrow/top-up of the Loan) and the subsequent 2 calendar months.. If you have signed up for any Loan related promotion offers (e.g. GoFlexi-Link offer and 0.68% saving interest rate offered by Loan-Deposit-Link) previously (“Previous Loan Promotion Offers”), such Previous Loan Promotion Offers shall end and be replaced by this Promotion and you shall not be entitled to continue to enjoy the benefits under the Previous Loan Promotion Offers, upon you agree to reborrow/top-up of the Loan and drawdown.

[5] Within the Valid Period, Eligible Customer will receive a monthly cash rebate (“Interest Rebate”), amount of which shall be equal to:

Applicable Deposit Balance of the respective preceding calendar month x Rebate Rate

In which:

(a) Applicable Deposit Balance of a calendar month shall be the monthly average of the day-end Available Balances of the Eligible Customer’s Core Account in HKD for each day in the respective calendar month (balances of any other currencies in the Eligible Customer’s Core Account are not included) capped at HKD500,000

(b) Rebate Rate shall be equal to 3.75% minus the basic interest rate applicable to the Core Account of the Eligible Customer (“Core Account Interest Rate”) and calculated on a 365 days basis (a 366-day basis in the case of a leap year). However, in any event, the sum of Rebate Rate and Core Account Interest Rate shall not exceed 3.75%.

Example:

* Our interest rate for HKD Core Account is 0.01%. It is for reference only and is subject to change from time to time and at the Bank’s sole and absolute discretion. The latest prevailing interest rate for your Core Account can be obtained from our website or WeLab Bank app.

Available Balance means the balance shown in your Core Account excluding any pending transactions (including Debit Card payments and GoSave funds).

[6] Interest Rebate is calculated on a pro-rata basis if the Loan is not held for the entire calendar month. This will occur if the Loan drawdown date or early repayment date does not fall on the 1st of any calendar month.

For example:

• Drawdown date not on the 1st: If a customer draws down his/her loan on the 5th April, then the Applicable Deposit Balance will be calculated pro-rated from the 5th April (i.e. 5th to 30th April). The Interest Rebate will be credited on or before the 15 working days of May.
• Early repayment date not on the 1st: If a customer early repays on the 10th of April, then the Applicable Deposit Balance will be calculated pro-rated from the 1st to 9th April. The Interest Rebate will be credited on or before the 15 working days of May.

[7] Interest Rebate of the preceding calendar month will be credited into your Core Account within 15 working days from the 1st day of next calendar month.

[8] To be entitled to participate in this Promotion and receive an Interest Rebate, Eligible Customer’s loan account must be valid with good condition (including but not limited to no delinquency) and no default during the entire tenor of the Loan, otherwise, the eligibility of the Eligible Customer to participate in this Promotion may be forfeited and any subsequent unpaid Interest Rebate will be cancelled automatically forthwith without prior notice to you.

[9] Participation in the Promotion and your entitlement to the Promotion and Interest Rebate is subject to there being no abuse or non-compliance by you, failing which the Bank will not credit the rebate or where the rebate has been credited, we may debit the value of the rebate from your Core Account without prior notice and/or take such action to recover any outstanding amounts.

[10] We reserve the right to suspend, modify or terminate the Promotion and/or amend these terms and conditions at any time without prior notice. In the event of dispute, our decision shall be final, conclusive and binding.

[11] These terms and conditions shall be read in conjunction with our Account Terms and the WeLab Bank Personal Loan (Personal Instalment Loan & Card Debt Consolidation Loan) Terms and Conditions. In the event of discrepancies or inconsistencies between these terms and conditions and the Account Terms and the WeLab Bank Personal Loan (Personal Instalment Loan & Card Debt Consolidation Loan) Terms and Conditions, these terms and conditions shall prevail.

[12] Terms defined in our Account Terms and/or the WeLab Bank Personal Loan (Personal Instalment Loan & Card Debt Consolidation Loan) Terms and Conditions shall have the same meanings when used herein, unless otherwise defined.

[13] We reserve the right to suspend, modify or terminate this Promotion and/or amend these Promotion terms and conditions at any time. In the event of dispute, our decision shall be final, conclusive and binding.

[14] In the event of discrepancies and or inconsistencies between the English and Chinese versions of these terms and conditions, the English version shall prevail.

To borrow or not to borrow? Borrow only if you can repay!

Effective date: 1 March 2024